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Preview

Summary

The ideas set forth in these pages matured in the authors mind during the early years of constructive communism in Petrograd. The communist government, intoxicated by its successes in the counter-revolution, had promised to deal promptly with all economic problems now that its hands where free to do so. It was at this moment of its greatest triumphs that the author put forward his contention that the system of Marxian communism, as then conceived, was-intrinsically unsound and must inevitably break down.

Table of Contents

Foreword. Preface. Chapters: 1. Marxism and the Problem of Socialist Economics. 2. Socialism and the Economic Principle. 3. The Calculation of Labour Value in the Socialist Society. 4. Labour Costs and the Market Price. 5. The Unitary Plan of the Socialist Economy. 6. The Problem of Distribution Under Socialism. 7. Economic Freedom and Socialism. 8. The Subjective Factors of the Socialist Economic System. 9. Socialism and Agriculture. 10. Conculsion.

Author(s) Bio

Friedrich August von Hayek often referred to by his initials F. A. Hayek, was an Austrian-British economist and philosopher best known for his defense of classical liberalism. He was Visiting Professor of Economics, University of Salzburg, Austria (1969-1974) Honorary Fellow, Hoover Institution, Stanford University (1977-1992).

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